Investors focused on the Basic Materials space have likely heard of Alamos Gold (AGI), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AGI and the rest of the Basic Materials group's stocks.
Alamos Gold is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AGI is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AGI's full-year earnings has moved 25.71% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AGI has returned about 61.63% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -4.82% on a year-to-date basis. This means that Alamos Gold is outperforming the sector as a whole this year.
Breaking things down more, AGI is a member of the Mining - Gold industry, which includes 31 individual companies and currently sits at #70 in the Zacks Industry Rank. Stocks in this group have gained about 27.49% so far this year, so AGI is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to AGI as it looks to continue its solid performance.
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Alamos Gold Inc. (AGI) : Free Stock Analysis Report
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